Australia is losing another vehicle manufacturing facility — and the jobs that go along with it.
Toyota Motor Corp. announced that it would stop making cars in Australia in 2017. Toyota’s withdrawal will mean about 2,500 lost jobs, the Associated Press said.
Toyota announced its decision two months after General Motors Co. said it would end vehicle production, also in 20127, AP said. Ford Motor Co. said in May it was stopping production in 2016. The shutdowns will account for about 6,600 lost jobs, AP said.
Toyota cited the high cost of manufacturing, competition and the high Australian dollar as reasons for its decision.
Toyota, which has been manufacturing cars in Australia since 1963, currently makes the Camry, Camry Hybrid and Aurion in the country. It will become a sales company, AP said.